◆ SpookStack

° hy PUMplr bets wy os aa oe y . os wd a om | rr pote “at GE ag ate wee im) . . a te0 em aa cah GEEhe 62 Cee crowee 2 ceremnenttn car nae enebetiaenemane a sempemmnunanats © dietiatts POE AP -UE ED ews <ercene rene eomctentan Meare cme eam taeedng spt eer AAT SACRE LAAC NIIP ro fy] wet Ne ws “Sf Ta, "”: SC ww, . ‘e Lod .e Se ae ye ner ZP 87-22720$ cogte On 9/20/77, a series of search warrants were executed at key locations throughout the United States @t the residences and businesses of primary subjects felated to OPPOPEN. The two additional cases captioned in the title of this communication are considered OPPOPEN related. One of these searches was conducted at Bannon ' International, 156 State Street, Boston, Massachusetts. The Boston Division seized a voluminous amount of records -- -: stored at this establishment and thereafter began to put the information in a form suitable for entry into the Computer system (Major Case Information System). at the present time, Boston is continuing to review the seized material and is in the process of getting forth leads based on information obtained from the material. As brief background: oe Beginning on 12/16/74, and extending through 2975, PEILLIP KARL KITZER, JR. and other individuals operated an "off shore bank" identified as the First Mational Gity Bank and Trust Company, Ltd., Granada, West Indies. From approximately 11/75 through 5/76, KITZER was a leading figure in the operation of a seconé “off shore” bank, the Mercantile Bank and Trust Company, St. Vincent, and Chicago, tilirois. With increasing law enforcement interest in each of eforenamed “off shore“ banks, KITZZR and his associates moved “to create a new vehicle for fraud. The third "off shore* Sank organized was the Seven Oak Finance, Ltd. Bank in Kent, Bnogland, which KITZER and his associates had scquired by the Vall of 1976.. It is reasonably estimated coments - mace by KITZER that the total amount of fraudclent negotiable instruments written through the “off shore" banks operated by KITZUR and his associates, approximates 24 billion dellars. Zn all three of these ventures, KITZER and others sold and/or were involved in the negotiation of letters of credit, certificates of Geposit, loan guarantees and other financial instruments on these “oft shore” banks. ; RIPTLER and his associates have termed thenselves, “fhe Praternity® and are @ loosely kni: group comprised of appreximately 30 to 40 of the world's top con-men. These con-men have maintained contact with each other threosh © the extensive use of telephones, telex machines, the mail and personal visits. . Lite ~ .